Dec, 31, 2023 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $23.19 million in total assets. Opened 83 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,248 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TANDEM FEDERAL CREDIT UNION |
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Address: (Main Office) | 21043 Mound Rd WARREN, MI 48091-2903 |
Phone: | (586) 759-5050 |
Fax: | (586) 759-5053 |
Website: | https://www.tandemfcu.com |
Branches: | 1 branch locations |
Members: | 2,248 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4787 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $23,186,661 |
CEO/Manager: | Deirdre Taylor |
Chairperson: | Patricia Swann-Brown |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,405,308 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,419,875 |
Unsecured Loans | 1,449,016 |
Other Loans | 4,138,772 |
TOTAL LOANS | 8,007,664 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -78,570 |
Land And Building | 176,122 |
Other Fixed Assets | 94,815 |
NCUSIF Deposit | 197,067 |
All Other Assets | 0 |
TOTAL ASSETS | 23,186,661 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,715 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 177,074 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,788,445 |
Regular shares | 15,780,592 |
All Other Shares & Deposits | 1,698,532 |
TOTAL SHARES & DEPOSITS | 20,267,569 |
TOTAL LIABILITIES | 20,448,358 |
Regular Reserve | 0 |
Other Reserves | -1,250,848 |
Undivided Earnings | 3,989,151 |
TOTAL EQUITY | 2,738,303 |
TOTAL LIABILITIES, SHARES, & EQUITY | 23,186,661 |
INCOME & EXPENSE | |
Loan Income | 497,963 |
Investment Income | 235,550 |
Other Income | 220,243 |
Total Employee Compensation & Benefits | 434,961 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 698,373 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,849 |
Cost of Funds | 34,710 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -155,118 |
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